Thursday, September 7, 2023
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Qualcomm feels the results of the declining smartphone market



What you should know

  • Qualcomm introduced its fiscal yr Q3 2023 monetary earnings on Wednesday.
  • The corporate noticed income fall in most departments in comparison with the identical quarter final yr.
  • Handset chip gross sales fell 25%, doubtless a results of the falling smartphone shipments.

The smartphone business is at the moment in decline proper now, and firms like Samsung and Qualcomm are feeling the monetary results of it. Qualcomm introduced its fiscal yr Q3 2023 monetary earnings on Thursday, and whereas it carried out higher than expectations, the corporate noticed revenues falling in almost each division.

Qualcomm reported $8.45 billion, which represents a 23% drop in comparison with the $10.9 billion in income reported throughout the identical interval in 2022. Among the many greatest offenders throughout the quarter have been handset chip gross sales, which fell 25% year-over-year to $5.25 billion.





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